Y Intercept Hong Kong Ltd Purchases New Position in Best Buy Co., Inc. (NYSE:BBY)

Y Intercept Hong Kong Ltd purchased a new position in Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,286 shares of the technology retailer’s stock, valued at approximately $968,000.

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Best Buy by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after purchasing an additional 241,988 shares during the period. Geode Capital Management LLC lifted its position in Best Buy by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock worth $499,954,000 after buying an additional 120,185 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Best Buy by 17.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,606,242 shares of the technology retailer’s stock worth $137,816,000 after buying an additional 236,524 shares during the period. Eagle Asset Management Inc. increased its position in Best Buy by 3.3% during the third quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer’s stock valued at $143,396,000 after acquiring an additional 44,693 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Best Buy by 5.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,160,614 shares of the technology retailer’s stock valued at $119,892,000 after acquiring an additional 61,119 shares during the period. 80.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BBY. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their target price on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Barclays decreased their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Best Buy in a research report on Thursday. Finally, UBS Group reduced their target price on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Best Buy currently has an average rating of “Moderate Buy” and an average price target of $101.72.

Best Buy Stock Down 2.0 %

Shares of Best Buy stock opened at $88.61 on Friday. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The company has a market capitalization of $18.95 billion, a P/E ratio of 15.15, a P/E/G ratio of 2.10 and a beta of 1.43. The company has a 50 day moving average of $86.31 and a 200 day moving average of $90.50.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.04). The business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 earnings per share. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Insider Activity at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is owned by corporate insiders.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.